How We Can Help
Setting up a new business can be a daunting task but by dealing with the technicalities and administration of the process our clients have more time to concentrate on the important task of increasing their customer base and their business.
A new business can be commenced as a Sole Trader, where the business owner is a Sole Trader. Such business can include the following:- Dentists, Doctors, Small Retailers, Property Renters, Painter/Decorators and other tradesmen.
A new business can also be commenced as a Partnership where two or more people work together to run a business. We can assist with tax registration and opening a bank account for the business as stated above. We can also assist in the preparation of a Partnership Agreement which would be used to set out the terms and conditions on which the Partnership is based.
The third way in which a new business can be commenced is as a Limited Liability Company. Such businesses are incorporated in the Companies Registration Office and are regulated by Company Law contained in The Companies Acts. The business is a separate entity to its owners and if this business fails it is its assets and not those of its owners which are used to pay its liabilities. This can make the use of a Limited Liability Company attractive to its owners. We can have such a business incorporated in the Companies Registration Office with all Shareholders and Directors registered in the Company. We can also advise the Company Directors to ensure that the Company remains compliant with Company law and Tax legislation.
Funding Your New Business
When a business commences and requires funding their bank is normally the first port of call. We provide assistance with the preparation of Business Plans and Cash Flow forecasts which are often required by banks in order for them to establish if the business will be in a position to repay any funding they are applying for. We also negotiate with banks in funding applications by our clients. Apart from banks funding can often be obtained from government grants or from an investing agency. We also advise upon and assist with applications for such funding applications.
We provide assistance with preparing initial business plans which may be required to enable the business receive funding from a Grant, Bank Loan etc. We can also register the new business name to avoid it being used by a competitor. We register the business for tax, and have a bank account opened for it.